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  • Daniel Palmer | Business Spectator
    DataRoom AM Bega backdown Bega backs away from its WCB bid clearing the path for Canadian suitor Saputo while Dexus Property Group lands CBA s offices contract by Daniel Palmer 7 35am December 19 DataRoom AM Saputo sticking point The Canadian dairy company s Warrnambool bid could still end in deadlock while Pact shrugs off concerns over its weak debut by Daniel Palmer 7 27am December 18 DataRoom AM IAG bounty Insurance Australia Group hopes to turn risk into reward with its Wesfarmers insurance buy while the IPO rush looks set to continue in 2014 by Daniel Palmer 7 30am December 17 DataRoom AM Qantas cold shoulder Qantas looks like it may have to fend for itself while GrainCorp s exiting boss gives the government a serve by Daniel Palmer 7 02am December 16 3 comments DataRoom AM Virgin booster shot Virgin Australia gets some help from its major shareholders while Transurban and AustralianSuper look to have joined forces in a bid for Queensland Motorways by Daniel Palmer 7 34am December 13 DataRoom AM Foreign turnaround Yanzhou has been given the all clear to maintain its Australian investments while Saputo may be asked to cough up more for Warrnambool Cheese Butter by Daniel Palmer 7 25am December 12 DataRoom AM Woodside s gas lag Woodside s Leviathan plans remain in the balance while Lion Nathan may be seeking a joint venture with Parmalat by Daniel Palmer 7 34am December 11 DataRoom AM TPG top up Investors are pleased TPG finally sealed the deal on acquiring AAPT while Amcor and Brambles get ticks of approval for their respective demergers by Daniel Palmer 7 29am December 10 DataRoom AM Qantas baggage drop A plane sale and leaseback option could straighten Qantas tailspin while Kirin Holdings may be looking to offload its National Foods dairy assets by Daniel Palmer 7 26am December 09 DataRoom AM Qantas tailspin Qantas pleas for help fall on deaf ears while Veda Group s strong debut on the ASX puts to bed concerns of IPO fatigue by Daniel Palmer 7 18am December 06 DataRoom AM Westfield makeover Frank Lowy takes Westfield Group in a new direction while Fairfax Media sends Stayz on a one way trip by Daniel Palmer 7 03am December 05 DataRoom AM Netting AAPT iiNet is rumoured to be in the race for AAPT while the big week of IPOs stumbles with Industria REIT by Daniel Palmer 7 14am December 04 Page 1 DataRoom AM Unclogging Clydesdale NAB may offload its costly UK banking business Clydesdale Bank while the battle for Warrnambool Cheese Butter may see a last minute entrant by Daniel Palmer 7 16am January 10 DataRoom AM Juicy deals Retail Zoo owner of Boost Juice could fall to an apex predator while Saputo is having a hard time convincing Kirin Holdings and Bega Cheese to play ball by Daniel Palmer 7 11am January 09 Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others

    Original URL path: http://www.businessspectator.com.au/contributor/daniel-palmer (2014-01-12)
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  • Exxon, 7-Eleven in branding deal | Business Spectator
    and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Exxon 7 Eleven in branding deal Barry Fitzgerald The Australian 10 Jan 6 57 AM DataRoom Industries Resources and Energy Deal reaffirms ExxonMobil s commitment to Aust downstream operations You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password ExxonMobil has volunteered it is committed to its Australian downstream operations of oil refining and marketing distribution after striking a branding deal for its Mobil arm at 7 Eleven convenience petrol stations in the eastern states The commitment by ExxonMobil Australia chairman Richard Owen was unprompted and comes as the future of the industry is uncertain due to oil refinery closures and the pending sale by Shell of its Geelong refinery in southwest Victoria and possibly its 900 petrol stations about two thirds of which are operated by the Wesfarmers owned Coles ExxonMobil owns the Altona refinery in suburban Melbourne but sold its retail assets to the privately owned 7 Eleven Australia in 2010 But the Mobil brand is now making a return at 7 Eleven sites allowing 7 Eleven stores service stations to leverage off the Mobil brand s century old presence in the market and its reputation for quality products Mr Owen said ExxonMobil had been the exclusive supplier of fuel to 7 Eleven service stations since 2012 and that the new strategic partnership provided a platform for future growth 7 Eleven is the leading Australian convenience retailer and has also established a well recognised position in the retail fuels market in Australia over the last decade he said Mr Owen said the branding deal also highlights ExxonMobil s commitment to downstream operations His comments come as speculation mounts that Shell is close to clinching a deal on its Geelong refinery and possibly its other downstream assets after first flagging in April last year that it aimed to complete a deal in 2014 Shell has said if it can not sell the refinery it will consider turning it into a fuel import terminal to supply its local marketing and distribution business But recent speculation has those non refinery downstream assets also on the block The planned exit from Geelong comes as Australian refiners struggle to compete with much bigger operations in Asia It also follows the 2011 decision by Shell to convert

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/dataroom/exxon-7-eleven-branding-deal (2014-01-12)
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  • Barry Fitzgerald - The Australian | Business Spectator
    adding to a generally weak day for European markets Politics Australian Election Federal Budget International News Asia Europe USA National Affairs Latest stories Gagging visas are an attack on democracy The skyrocketing price of a journalist visa for Nauru will limit coverage of Australian prisoners on a vassal state It is an insult to the democratic principles this country stands for Britain will be poorer for Scotland the brave The economic case for Scottish independence is far from settled with doubts hanging over volatile oil prices and uncertainty over future revenues One thing is certain it would be a disaster for Britain Technology NBN Buzz Mobility BYOD Smart Devices Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Barry Fitzgerald The Australian Exxon 7 Eleven in branding deal Deal reaffirms ExxonMobil s commitment to Aust downstream operations by Barry Fitzgerald The Australian 6 57am January 10 Search Markets Global Indices Index Last Chg Chg DOW JONES 16437 05 7 7 S P 500 1842 37 4 2 0 2 NASDAQ 4174 66 18 5 0 4 FTSE 100 6739 94 48 6 0 7 NIKKEI 15912 06 31 7 0 2 Hang Seng 22846 25 58 9 0 3 The Spectators Harnessing the power of the one man brand Ken Phillips 10 Jan 1 58 PM 2 Self employed individuals can strengthen relationships with consumers

    Original URL path: http://www.businessspectator.com.au/contributor/barry-fitzgerald-australian-0 (2014-01-12)
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  • Michael Bennet - The Australian | Business Spectator
    mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Michael Bennet The Australian NAB UK exit expected soon Analysts forecast bank to divest UK assets as economic recovery takes shape by Michael Bennet The Australian 1 14am January 10 3 comments Boost Juice nears sale report Affinity Equity Partners close to deal to buy Boost franchise by Michael Bennet The Australian 1 07am January 09 UBS takes title as best bank Survey of corporates sees Swiss based group labelled Australia s best investment bank by Michael Bennet The Australian 2 26am December 20 Coates Offshore draws offers The international arm of Coates Hire has received approaches from several parties and may consider a sale by Michael Bennet The Australian 9 33am December 09 Westpac poised to buy Lloyds remaining lending books Lender best placed to win loans worth more than 1bn ACCC to look at deal by Michael Bennet The Australian 4 03pm October 09 Wood to head BAML investment bank David Wood has been appointed the new head of investment banking at Bank of America Merrill Lynch by Michael Bennet The Australian 12 09pm October 04 NAB UK exit expected soon Analysts forecast bank to divest UK assets as economic recovery takes shape by Michael Bennet The Australian 1 14am January 10 3 comments Boost Juice nears sale report Affinity Equity Partners close to deal to buy Boost franchise by Michael Bennet The Australian 1 07am January 09 UBS takes title as best bank Survey of corporates sees Swiss based group labelled Australia s best investment bank by Michael Bennet The Australian 2 26am December 20 Coates Offshore draws offers The international arm of Coates Hire has

    Original URL path: http://www.businessspectator.com.au/contributor/michael-bennet-australian (2014-01-12)
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  • Hedge funds key to WCB fight | Business Spectator
    takeover bid for the company While all eyes are focused on major shareholders Bega and Lion as Saputo s offer is due to expire today sources close to the bid have suggested that the Canadian bidder is hopeful of increasing its stake without securing the support of the two major holders Warrnambool s share register has changed dramatically since the company came into play late last year with about 15 per cent of stock now with nominee entities which are most likely holding shares on behalf of global hedge funds and other event driven investors However local fund managers pointed out yesterday that with Warrnambool shares currently trading at about 9 15 higher than Saputo s basement offer price of 9 a share such opportunistic investors had no reason to accept The fact is you can get more for your shares on market so why would you sell to Saputo now one fund manager said Plus with Bega reportedly shopping its stake in the company around who knows what will happen Someone could pop up with a higher bid Three months since launching its takeover bid Saputo has procured just over 20 per cent of the company making it Warrnambool s largest investor with the bulk of acceptances coming from Warrnambool directors and related parties dairy farmer suppliers and other regional retail investors Strategic investors Bega Lion and Murray Goulburn which has a competing bid on the table and would be unlikely to sell into Saputo s bid own a combined 46 per cent of Warrnambool s shares And while Bega and Lion are understood to be reluctant to see Saputo win control of Warrnambool and therefore have a new competitor enter the market there remains 34 per cent of the register up for grabs The dairy giant wants at least 50 per cent of the target company delivering it with control and a much needed base to expand into the Asian market which is poised for a boom in line with growing middle class incomes over coming years Its 9 a share offer is set to rise to 9 20 should it acquire at least 50 per cent and to 9 60 if it breaks through the 90 per cent barrier In recent days Saputo has been trying to pressure Warrnambool shareholders into accepting its bid by suggesting that there was no guarantee that it would extend the offer which is due to close at 1900 AEDT It had yet to make an announcement by the close of yesterday s trading However with Murray Goulburn s 9 50 a share proposal tied up before the Australian Competition Tribunal Saputo is expected to announce a two week extension of its bid which has the backing of the Warrnambool Cheese Butter board Local dairy co operative Murray Goulburn has been eyeing off Warrnambool for several years But having attracted the attention of the Australian Competition Consumer Commission in the past it needs to convince the tribunal that a merger between the

    Original URL path: http://www.businessspectator.com.au/news/2014/1/10/mergers-acquisitions/hedge-funds-key-wcb-fight (2014-01-12)
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  • Rebecca Urban — The Australian | Business Spectator
    Emerging Tech Applications Big Data Cloud Computing Data Management Reviews Social Media Start ups Security Data Security Identity Management Wireless Security Telecommunication Latest stories Google v Facebook Who knows wins The unparalleled Google Analytics service means Google knows more about internet users than anyone else And runner up Facebook must go further to mine precious user insights if it wants to compete Will Twitter s founder strike social gold twice Biz Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Rebecca Urban The Australian Hedge funds key to WCB fight Saputo looking beyond Bega and Lion for Warrnambool takeover support by Rebecca Urban The Australian 1 08am January 10 1 comment WCB merger claims disputed Murray Goulburn public benefit claims have been dismissed by rivals by Rebecca Urban The Australian 1 21am January 09 1 comment Murray Goulburn s tilt at WCB of concern ACCC The ACCC says it still harbours concerns over Murray Goulburn s proposed acquisition of the hotly pursued Warrnambool Cheese Butter company by Rebecca Urban The Australian 6 13pm October 31 Saputo losing grip in WCB race Analysts raise doubt on Saputo bid say domestic players could move to block foreign buyer by Rebecca Urban The Australian 4 23am October 31 Hedge funds key to WCB fight Saputo looking beyond Bega and Lion for Warrnambool takeover support by Rebecca Urban The Australian 1 08am January 10 1 comment WCB merger claims disputed Murray Goulburn public benefit claims have been dismissed by rivals by Rebecca Urban The Australian 1 21am January 09 1 comment Murray Goulburn s tilt at WCB of concern ACCC The ACCC says it still harbours concerns over Murray Goulburn s proposed acquisition of the hotly pursued Warrnambool Cheese Butter company by Rebecca Urban The Australian 6 13pm October 31

    Original URL path: http://www.businessspectator.com.au/contributor/rebecca-urban-%E2%80%94-australian (2014-01-12)
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  • JP Morgan snaps up Chi-X stake | Business Spectator
    Stone is looking to tap into the selflessness of others with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu JP Morgan snaps up Chi X stake 9 Jan 10 55 AM DataRoom Markets ASX Group becomes 8th financial firm to buy into alternative market operator You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter with Dow Jones Newswires JP Morgan Chase Co has become the eighth financial firm to take a stake in Chi X Global Holdings the global consortium which runs the alternative market operator to the Australian Securities Exchange Chi X was founded in 2008 by Instinet a subsidiary of Nomura Holdings Inc Financial terms of the transaction weren t disclosed though Chi X said JP Morgan joins owners Bank of America Merrill Lynch Goldman Sachs KCG Holdings Inc Morgan Stanley Quantlab Group L P and UBS AG Chi X Global operates market centers in Australia Canada and Japan The firm sold its stake in pan European stock exchange Chi X Europe to BATS Global Markets in 2011 Chairman of Chi X Global Fumiki Kondo welcomed JP Morgan to the investor group The addition of J P Morgan is an important milestone for Chi X and is representative of the support that we continue to receive from trading communities around the globe he said Print this page Related articles 13 Jan Singh behind key KKR deal 13 Jan Financial Index to buy Centric Wealth for 130m 10 Jan Global MnA slips

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/dataroom/jp-morgan-snaps-chi-x-stake (2014-01-12)
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  • WRT investors say split costs $1.5 bln too much | Business Spectator
    and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu WRT investors say split costs 1 5 bln too much Amanda Saunders 9 Jan 10 49 AM DataRoom Mergers Acquisitions Industries Property Retail Institutional investors in Westfield Retail Trust want as much as 1 5 billion sliced from the cost of the proposed split of the Lowy family international and domestic shopping centre empires You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Institutional investors in Westfield Retail Trust calculate that they are overpaying by 1 billion to 1 5 billion under a current restructure proposal and want the Lowy family to adjust the ratio on the split of their shopping centre empire One fund manager with a significant holding in WRT says the current ratio of 0 918 Westfield Group shares per WRT unit would see investors pay about 3 5 billion for the empire s property management business on an unusually high EBIT multiple The deal is a negative for WRT shareholders They need to adjust the merger ratio to move the deal into at least neutral territory one institutional shareholder said The Lowy s move to split Westfield s international and domestic operations transfers 5 to 10 cents a share from WRT to Westfield Group he said Westfield Group which contains the international portfolio of centres will be renamed Westfield Corporation It will have total assets of US17 6 billion in the US UK and Europe and a US9 billion development pipeline The separation will see Westfield Group s Australasian business demerged and then packaged with Westfield Retail Trust with Westfield Retail securityholders receiving 850 million in through a capital return and an aggregate 51 4 per cent of the new entity to be called Scentre Group The 850 million capital return is equivalent to a pro rata buyback of Westfield Retail Trust securities at 3 47 per security The 3 5 billion price tag on Westfield s property management business implies a multiple of about 19 5 times EBIT a far cry from splits seen as comparable like the 10 times earnings multiple for the Commonwealth Bank of Australia s planned spin off of the CFS Retail Property Trust On the current merger ratio it appears they WRT investors are paying 1 billion to 1 5 billion too much an EBIT multiple of even 12 times would value the property management business at 2 1 to 2 2 billion an institutional WRT shareholder said Westfield Group securityholders will get securities in the new Westfield Corp on a 1 1 basis

    Original URL path: http://www.businessspectator.com.au/news/2014/1/9/dataroom/wrt-investors-say-split-costs-15-bln-too-much (2014-01-12)
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